Skip to main content

tv   Journal  PBS  September 6, 2012 6:30pm-7:00pm PDT

6:30 pm
have been anticipating. the european central bank says it will intervene in bond markets to try to save the eurozone from its debt crisis. >> ecb boss mario draghi says the move to buy up bonds from struggling member states will be a fully effective backstop to potential dangers in the eurozone. >> draghi says the measure is within the bank's mandate to maintain price stability and that the euro is irreversible. >> at the press conference, draghi said what investors were waiting to hear -- with weak growth forecast to continue, he said the european central bank was ready to start buying bonds from struggling european governments. >> it is against this background that the governing council today decided on the modalities for undertaking out right transactions.
6:31 pm
in secondary markets for a sovereign bonds. >> draghi said governments wanting the ecb to buy their bonds will have to adhere to strict conditions. the program is aimed at lowering borrowing costs pushed up by market uncertainty. >> we will have a fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability in the euro area. >> draghi added that there was one dissenting vote on the ecb board. it is widely believed to have been from germany, which has been opposed to ecb intervention. >> more analysis now from the german institute of economic research. you have seen the press conference. what do you make of the developments? >> i think we have seen a decisive break in european monetary policy.
6:32 pm
>> a good or bad thing? >> in general, i think it is a bad thing because the ecb should decide in terms of price stability based on the data for the whole euro area. now, what we have this redistribution among countries, and the claim is that some countries have to pay higher interest rates, and the claim is difficult. >> what will germany's reaction be? >> i think there is fierce opposition because monetary policy has come very close to political governments in this sense, and this may be violating the principle of prohibition financing government debt with monetary press. >> the ecb will be acting just like any other creditor and will have to take losses if a country defaults on bonds that are bought by the ecb. does that put the ecb or the
6:33 pm
eurozone in a dangerous position? >> i guess, the ecb is -- yes, the ecb is taking very many risks. on the other hand, the abolishment of the seniority principle means that investors are not deterred any more from investing in these bonds. >> briefly, where does this leave the eurozone? >> i think we will not see that the structure differences will disappear in the euro area, and just printing money will not be sufficient to solve the problem. in a few weeks, we will see that we have to go for gold coverage, for instance, of the claims of governments. the finnish have made an example. it cover all their claims with some collateral, and this is the truth. >> thank you for the analysis. good to have you on the show.
6:34 pm
>> all right, this meeting, of course, a big topic today at all the stock markets around the world. a lot of people were expecting the european central bank to lower its main lending rate today as well. that did not happen. >> no, the ecb left its interest rate for the eurozone unchanged, stable at 0.75%. a lot of economies predicted another rate cut, but obviously, the ecb is getting a little bit more aware of inflation, so they decided not to change it. >> talk about drug the's credibility -- draghi's credibility. did he deliver? >> he delivered absolutely. they are delivering a bond- buying program, which is limited only with a time limit, as soon as the mission is completed.
6:35 pm
there are conditions, so there will be no carte blanche for italy and spain, and the reaction has been viewed very positively here. the german dax is of more than 2.5%. dow jones also gaining more than 1%. >> according to the markets, it is a good day for mario draghi. as always, thank you very much. apart from the ecb's meeting, the second most important gathering aimed at finding a solution to the euro crisis is taking place today in madrid. german chancellor angela merkel is in the spanish capital, meeting with prime minister mariano rajoy. both leaders say they will do everything possible to protect the euro. >> now on to greece were
6:36 pm
scuffles have broken out between different groups of police during anti-hastert protests. police union members in athens blocked the entrance to riot police headquarters. that prevented rider's inside from boarding buses to major protests planned this weekend. please pay is expected to be cut as the greek government pushes through spending cuts. -- police pay. >> at least 58 people have drowned after a boat carrying refugees capsized off the coast of turkey. the coast guard rescued more than 40 people. others managed to swim ashore. the boat went down in the aegean sea. officials say the boat was carrying migrants from iraq and syria. u.s. president barack obama will tell his party and all of america to night why he should stay in the white house another four years. >> the president will take the stage, of course, at the
6:37 pm
democratic national convention in charlotte, north carolina. >> he will be following some of the biggest names his party has ever known, including a man named bill. >> democrats knew they were in for a treat as bill clinton took to the stage. he is a popular figure. many americans look back fondly to clinton's presidency in the 1990's as a time of low unemployment and a balanced budget. he said his democrat successor barack obama was on the right path. >> he inherited a deeply damaged economy. he put a floor under the crash. he began the long, hard road to recovery and laid the foundation for a modern, more well-balanced economy that will produce millions of good new jobs, vibrant new businesses, and lots of new wealth for innovators. >> in his 50-minute speech, clinton threw his full weight behind obama's campaign for a second term in office. >> you must vote, and you must reelect president barack obama.
6:38 pm
[applause] >> delegates of the former president managed to make clear what is at stake in november's election. >> i thought he did a wonderful job. he puts things in terms of being very understandable. >> it was very good. right to the point, truthful, honest. >> obama thanked clinton for his rousing endorsement. the two have not always had an easy relationship, but democrats are now united in trying to stop mitt romney and the republicans from taking the white house in november. >> in syria, activists say 10 people have been killed in clashes between government forces and the opposition that happen on the outskirts of damascus. reports also say regime troops have captured a town on the border with jordan. the town has been used by many refugees to flee syria. jordanian officials say 66,000 syrians have entered the country sits -- since the conflict began. jordanian soldiers are reporting
6:39 pm
the syrian troops have shot at refugees trying to cross the border. >> we will be looking at the effects of the conflict in syria on neighboring lebanon later in this bulletin. israeli forces have killed three palestinians in the northern gaza strip after three other palestinians were killed in an israeli air strike overnight. hundreds of palestinians turned out for funeral processions like this one in gaza city. israel says the three men killed today were trying to plant explosives near the border fence. israel says the militants targeted in the overnight air strike were planning to fire rockets from gaza into israel. >> lufthansa passengers can expect more chaos at the airport. a cabin crew strike scheduled for friday has forced the airline to cancel a majority of its flights. dozens of flights have already been cancelled for today, including long hauls. affected passengers are being notified by e-mail or by text. the union organizing a strike is
6:40 pm
demanding a 5% pay increase and an end to the use of temporary workers. am staying in europe, leaders in the solar equipment business say today's decision is too little too late -- >> staying in europe. >> the european commission announced it will investigate whether chinese makers of solar panels have used price dumping to win ground in the european government. >> many european solar companies have already gone out of business, unable to compete with china. >> european manufacturers have accused their chinese rivals of flooding the market with cheap products. they say chinese solar panel makers enjoy an unfair advantage -- low-interest loans from the state. european companies say that enables chinese competitors to sell their products below european prices. china has become the world's biggest manufacturer of solar panels, accounting for 57% of the global total, followed by taiwan at 11% and in japan.
6:41 pm
last year, germany's share fell to just 6.7%. china said it regretted the decision by the european commission to open an investigation into alleged dumping. the german environment minister is still hoping for an amicable level look -- resolution. >> the investigation will take place, but that does not stop anyone from seeking solutions to the conflict in the meantime. >> the investigation is expected to last over a year. brussels could decide to impose hefty duties on chinese panels, something the u.s. did in may. >> all right, in a few minutes, we will have the latest from the paralympics in london. >> first, a look at other stories making news. >> 25 turkish soldiers have been killed at a munitions the vote in an explosion. regional government has ruled out terrorism.
6:42 pm
an official says the accident was caused by someone dropping a hand grenade. >> a four-year-old girl and her older sister are the only survivors of a shooting in the french alps. the girl hid for eight hours under the corpses of her mother and grandmother before french police found her. the gunmen also killed her father and >> a 7.6 magnitude earthquake has rattled costa rica, leaving at least 20 people injured. the costa rican president has said the country has suffered no major damage. all right, he has posed in front of the press and their chested, on horseback, swimming in freezing waters. >> the russian president has taken to the skies in a motorized hang glider, leading a flock of siberian white cranes.
6:43 pm
>> the russian president's stunts often make the headlines. this time, vladimir putin has taken to the skies in an effort to help russian wildlife. from the seat of a motorized hang glider, he has helped scientists guide siberian cranes on their winter migration path. >> the birds recognize us and were not afraid. some of them even overtook us on both sides. they are wonderful creatures. >> putin is trying to cast himself as a protector of russia and its wildlife. his approval ratings have dropped recently, with one out of two russians saying they support him. his reputation has taken a beating from the economic crisis and widespread complaints of corruption. "putin will not get much political benefit from this. russians want to see real changes. water and gas prices are
6:44 pm
skyrocketing, and that affects people all over the country." that is what people are concerned about. putin stopped off for the flight in siberia on his way to a summit. >> we will be right back.
6:45 pm
>> welcome back, everybody. the past year-and-a-half, we have been reporting on the uprising and conflict in syria. at times, the conflict has spilled over the nation's borders. it has also created a refugee crisis for neighboring countries. >> lebanon went through its own civil war, which lasted 15 years. tens of thousands were killed. there was also a mass exodus of people. hundreds of thousands remain displaced within lebanon. >> tensions are still high among some groups, and the conflict over the border is creating new problems. >> august saw fierce fighting on the streets of 11 on second city
6:46 pm
-- tripoli. relations have always been tense. the conflict in neighboring syria has made things worse. even in lebanon, many support the syrian president, and most of the sunnis support the syrian opposition. lebanon has been experiencing a fragile peace since the end of its civil war, which pitted religious groups against each other. since the war ended in 1990, a complex political system has divided up power along religious lines. the president must be an maronite christian, the prime minister a sunni, and the speaker of parliament a shiite. >> lebanon is highly sectarian. political system is built on religion.
6:47 pm
even before the uprising, there was a split between those who supported assad and those who opposed him. >> because of the war, thousands are crossing the border into lebanon, adding to the tensions. >> for example, we have syrian opposition activists based in beirut. we have the three syrian army to retreat into lebanese territory. >> the lebanese government has not managed to do much to calm the situation. one reason is that the cabinet is dominated by hezbollah. a shiite militia that also operates as a political party. hezbollah is a close ally of the syrian government and of iran, the main shiite power in the middle east. >> teheran supports hezbollah with weapons and money that come into the country through syria. they depend on having a friendly government in damascus, so has a lot is going to do everything it can to keep assad in power.
6:48 pm
that means the fighting inside lebanon could escalate. >> but the lebanese people themselves will be wary of the -- becoming involved in another conflict. >> i think that the lebanese are well aware of the risks. they have emerged from a pointless 15-year war themselves. it will not let themselves be exploited. some lebanese politicians are trying to de escalate the conflict. >> in tripoli, the lebanese army is now overseeing a cease-fire. whether or not the streets stay peaceful depends very much on how long the war across the border rages on. >> now to an important medical discovery that could dramatically change life in the developing world. >> malaria is a major killer. it is transmitted by that great nemesis, the mosquito. no other animal in history has killed more people. >> here is more from south africa. >> a team from the university of
6:49 pm
cape town has discovered a compound. it may be a cure for malaria. it is a huge breakthrough, not only as the -- is the malaria parasite unable to overcome the drug, but the drug also seems to kill all strains of malaria with a single dose. this professor and his colleagues subjected it to over 18 months of trials. >> this requires very high doses, and that high dose given many times to have the same outcome as just a single dose of this. >> the discovery could make a huge difference in parts of africa where malaria ravages whole communities. in 2010, nearly 70,000 people -- mostly children -- died from the disease. medicines to treat it are either too expensive or ineffective because the malaria parasite
6:50 pm
could be develops resistance. this new drug could save thousands of lives a year, but it will not be ready for sale for another seven years. until then, governments rely on outreach campaigns to educate people on how to avoid malaria. >> the insect spraying is being done. >> until now, the most effective method of dealing with malaria has been spraying insecticide ddt, a controversial chemical because of the environmental damage it can cause, but it is effective and cheaper. >> apart from making a contribution to helping our fellow human beings who are less fortunate, it is the skills we will be using in other areas
6:51 pm
where we will make money because we need to make money because we cannot fund something that is very highly subsidized without finding the resources. someone has to pay for it. >> the fact there is so little money to be made means there is little research being done. that makes this discovery all the more important. i am all right, to corporate news now -- competition in the smartphone market keeps getting fiercer. >> the battle continues, and an old favorite is trying to make a comeback. >> a striking yellow color dominated nokia's latest attempt to reverse its steady decline and hit back at the competition. the former world number one mobile phone maker chose new york city to unveil the lumia 920, a device they hope will change people's smartphone habits. >> we are creating the most personal smart the space phone experience. we started with the ambition that nokia could build something beautifully different.
6:52 pm
this is lumia -- the world's most innovative smartphone. >> with the innovative cam system and wireless charging, nokia is out to take apple and samsung by surprise. the swedish company is also challenging google's enjoyed market by picking microsoft to supply the operating system -- google's android markets. but there has been a lot of catching up to do. >> it is unbelievable how far we have come in just 18 months working with nokia. it was a fallout sprint. >> it is a last-ditch stand for nokia, and won many analysts say could be too late. most people are focused on next week's likely unveiling of apple's iphone 5. >> i cannot do it anymore -- those were the words of a soccer player for the second division site: after he quit, following threats by supporters of his own
6:53 pm
team. >> the soccer team was relegated last season, and the player has been the victim of menacing fans who were targeting his home and family. >> for four years, he was a feature of the squad, but as the team's fortunes waned, the 23- year-old was made a scapegoat by some fans. in february, he suffered a broken nose in an attack. last week, he was verbally abused in front of his home, and his family threatened. cologne agreed to let him leave, but the players union said it sould not have come to that. from them whenever players or managers have to run away because of massive pressure or because they are victims of violence, that is a defeat for football. and it sends a bad signal because it shows that the perpetrators are getting their way and are able to influence the decisions of clubs.
6:54 pm
>> cologne's should sponsor consider withdrawing support over the incident but changed its mind after assurances that the club would crack down on hooliganism. but there are other examples. in april, a player was hospitalized after being attacked by fans at a nightclub. some fans even dug graves 14 players after they lost a match i 2008. with fan violence seeping into the higher divisions, the german football league has called for a zero tolerance approach. meanwhile, kevin will be looking for a new club and a fresh start with true supporters. >> roger federer's dream of a sixth u.s. open title has been shattered. he was beaten in four sets by his check opponent -- czech
6:55 pm
upon. time now to check in on the paralympics in london. team germany picked up three more medals today on top of their hall of gold medals so far. >> an impressive show in the pool wednesday to clinch the 13th gold medal for germany. here is more. >> she is 42 years old, but her younger competitors were no match for the german swimmer. she blasted past opponents to take the gold in the 100-meter breaststroke with a 12-second advantage. the 41-year-old german also took gold in the hand cycling tough, finishing the 16-kilometer race almost two minutes ahead. it was a good day for germany's veteran athletes at the games.
6:56 pm
on the younger side of the spectrum, a 28-year-old cyclist also won gold to round out the most successful day yet for germany at the paralympics. >> all right, time for us to cycle out of here. >> thanks for joining us. stay with us. we have a lot more news coming your way, including news on that ecb decision today. bye-bye. captioned by the national captioning institute --www.ncicap.org--
6:57 pm
6:58 pm
6:59 pm
welcome to "newsline." it's friday, september 7th. i'm catherine kobayashi in tokyo. leaders from across the asia-pacific region see little value in putting up more walls between them. they are expected to agree to refrain from furth procedure techsism until the end of 2015. their ministers have agreed to cut tariffs on solar panels and 53 other green products. the leaders of countries in the asia-pacific economic cooperation forum will meet over

147 Views

info Stream Only

Uploaded by TV Archive on